Vincent Mazzotta Admits $13M Crypto Ponzi – But Did His Fake ‘Federal Reserve’ Fool Regulators?
Main Idea
Vincent Mazzotta pleaded guilty to a $13 million crypto Ponzi scheme, where he and co-defendant David Saffron defrauded investors with false promises of high-yield returns.
Key Points
1. Vincent Mazzotta Jr. admitted to money laundering in a $13 million crypto Ponzi scheme, as per a July 28, 2025, press release.
2. Mazzotta and David Saffron falsely promised high returns from investments in entities like Mind Capital and Crypto Reserve (FCR).
3. The scheme involved using a fake government entity to further deceive victims.
4. Mazzotta faces up to 15 years in prison, with sentencing scheduled for December 15.
5. Co-conspirators attempted to destroy evidence after Saffron's arrest.
Description
Arizona man Vincent Anthony Mazzotta Jr. pleaded guilty to money laundering and conspiracy to obstruct justice on Monday for his role in orchestrating a $13 million crypto Ponzi scheme, a new press release from the Department of Justice (DOJ) states. Arizona man pleads guilty to money laundering charges related to Ponzi scheme that resulted in $13 million in investor losses https://t.co/lYXNDkr7M2 — US Attorney L.A. (@USAO_LosAngeles) July 28, 2025 Arizona Man Pleads Guilty in $13M Crypto Fraud ...
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